Let’s start with a simple chart of the Fed Funds Rate, which the Federal Reserve has pinned near zero for years. This Zero Rate Interest Policy (ZIRP) is the god the PhD economists in the Fed and other central banks…
The fundamental premise of global central bank policy is simple: whatever’s broken in the economy can be fixed with zero interest rates (ZIRP). And the linear extension of this premise is equally simple: if ZIRP hasn’t fixed what’s broken, then…
What NIRP communicates is: this sucker’s going down, so sell everything and hoard your cash and precious metals. The last hurrah of central banks is the negative interest rate policy–NIRP. The basic idea of NIRP is to punish savers so…
‘With central bankers losing credibility left and right, and failing outright to boost the ‘wealth effect’ no matter what they throw at it, the next big question is when will central planners around the world unveil the cashless society which is a necessary and sufficient condition to a regime of global NIRP.’ Read more: Something Very […]
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